Kindly Email suggestions to moreassociate@gmail.com
To
Prime Minister of India
Sub: For Immediate notification of “draft notification on exemption to private limited companies” for restoration of development of corporate environment in India tabled on parliament on 14th July,2014
Dear Sir
1) Notification u/s 462 can be issued in public interest. Govt. is intending to issue exemption notification u/s 462 for private Ltd co which itself means that Govt. feels that these notification are necessary for development of private ltd companies in India. These exemptions should have been given w.e.f 1.4.14. However, there will be effective from date of notification. Delaying it further would mean delay in development of private ltd companies in India. In is to be notes that formation of Private Ltd companies in India has already reduced by 95%.
2) One of the most important problem that small private ltd co will face is the appointment of auditor, if draft notification is not notified immediately. Say A Pvt Ltd knows 50 audit firms. All 50 firms can give acceptance to 20 auditors only. All CA firms already having 30 audit / partners. Now, they will choose big audit & will reject audit of small private companies. It is to be noted that auditors are appointed on the basis of personal contract of private limited companies. If auditor cannot be appointed in AGM, there is penalty & prosecution provisions.
3) I had spoken with the officers of the Lok Sabha & Rajya Sabha. As per Verbal Communication with them 30 Days mentioned in the Section 462 of the companies Act, 2013 means 30 Sitting days of parliament and 30 Sitting Days has not been completed from the date when notification tabled in the parliament i.e. 14th July. In such situation, notification will carried forward to next session of Parliament. As per the Officers, they are also not clear whether 30 days mentioned in sec 462 is 30 days or 30 sitting days. They want to be conservative & want to give MPs 30 clear days to raise objections. They also said that if Law Ministry gives some clarification on the issue they can implement that also.
4) As per verbal communication with MCA Officer 30 days has been completed and there is not requirement of sitting days as per section 462.MCA is sending a letter to the parliament on this issue.
5) I appeal to you to direct the parliament officers to treat notification u/s 462 as passed as 30 days has been elapsed.
CA NITESH MORE, a citizen of India
Email: moreassociate@gmail.com
__._,_.___
No comments:
Post a Comment